ICE Founder Calls Hyperliquid Bigger Than Nasdaq; JPMorgan Says Debasement Trade Unwinding
Jeff Sprecher, founder of ICE and architect of the modern NYSE, stated at Bernstein's conference that Hyperliquid is bigger than Nasdaq by volume, built by 11 people, and cannot be ignored. He highlighted that Hyperliquid trades crude oil perpetuals on weekends when ICE markets are closed, attracting institutional attention. Meanwhile, JPMorgan analysts argue the 'debasement trade' (buying Bitcoin and gold as hedges) is losing momentum due to easing US-Iran tensions, with simultaneous outflows from BTC and gold ETFs. Standard Chartered analyst Geoffrey Kendrick compared Ethereum to Amazon post-dot-com bubble, setting a $40,000 target by end of decade, citing DeFi and stablecoin dominance. Additionally, Anthropic raised $65 billion at a $965 billion valuation, releasing Claude Opus 4.8, positioning itself for a potential IPO.
Key facts
- ICE founder says Hyperliquid bigger than Nasdaq by volume, built by 11 people.
- JPMorgan: Debasement trade unwinding as US-Iran tensions ease; BTC & gold ETFs see outflows.
- Standard Chartered compares ETH to Amazon post-dot-com, sets $40k target by 2030.
- Anthropic raises $65B at $965B valuation, releases Claude Opus 4.8.
- Crypto majors up 1-2%; BTC at $73.3k, ETH at $2k, HYPE rebounds 10%.